Transportation Secretary Anthony Foxx said Monday the technology holds the potential to significantly reduce crashes, injuries and deaths on the nation's streets and highways.

A radio transponder would continually transmit a vehicle's position, heading, speed and other information. Cars would receive the same information back from other vehicles, and a vehicle's computer would alert the driver to an impending collision.

The government will issue a report later this month outlining its research on the new systems, and will issue its proposed rule before the end of the Obama administration.